Latin America, Asia urge world trade talks accord

Brasilia, Aug 24: More than 30 Latin American and Asian countries today called for a fast but balanced accord to bring struggling world trade talks to a successful conclusion.

Minsters and officials, after two days of informal talks in Brasilia, said they wanted to cooperate in the quest for an agreement in the so-called Doha Round of talks. They gave no timetable, however.

''We express our full support for the timely, balanced and successful conclusion of the Doha Round,'' they said in a closing statement.

The World Trade Organization talks were launched in 2001 after the September 11 attacks on the United States to boost the world economy through trade and to help developing countries grow out of poverty. But they have frequently broken down and are due to resume in Geneva next month.

Developing countries and rich nations have struggled to find common ground on the issue of the former giving greater access to industrial goods and the latter opening their markets to more farm goods.

WTO chief Pascal Lamy has warned that without a breakthrough soon, the Doha drive could be stalled for years.

The officials from 37 countries held two days of informal talks at a lakeside club in the capital Brasilia to forge stronger trade and investment links between Latin America and East Asia.

''One of the main questions was the importance that the Doha round be concluded with terms that benefit all participants. We are excited about the push to advance the talks to allow us to have a multilateral framework. It is fundamental,'' Paraguayan Foreign Minister Ruben Ramirez Lezcano said.

Brazilian Foreign Minister Celso Amorim, asked about the uncertain timetable for an agreement, said that answer could only be given after talks started again.

Participants also urged calm but caution over the recent turbulence in global financial markets.

''This problem is more or less under control, but the crisis is not over. We need to be alert,'' South Korean Trade Minister Kim Jong-hoon said at a news conference.

Other recent international financial crises have had a strong impact on Latin America, reducing prices for the main export products and also hitting investment.

''I don't know if it has finished or is going to finish but I do know that there wasn't nervousness like in the past.'' Amorim said.

REUTERS>